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Bitcoin pizza day: the celebration in the city and the “roadmap” for the crypto market

Bitcoin pizza day: the celebration in the city and the “roadmap” for the crypto market

This Wednesday the first 14 years of the Bitcoin Pizza Day. Almost a decade and a half passed since that May 22, 2010 in which the first recorded commercial transaction of Bitcoin for a product of the physical world. It should be remembered that at that time, a programmer named Laszlo Hanyeczbought two pizzas for 10,000 bitcoins to another user of the Bitcointalk forum; surely, without imagining what it would mean for the world.

On this special date for the crypto market, Ambit consulted with the main exchanges in the world about the evolution of the ecosystem since May 22, 2010, the posthalving impact and how the industry continues in a particular year for cryptocurrencies.

Bitcoin: optimism does not stop

Within the framework of Bitcoin Pizza DayBitget organized a meeting in which they presented some relevant data for the exchange such as the exponential growth of users, transactions and expansion to other countries in the region, but also a survey that showed some insights into what users perceive crypto after the last halving.

A priori, it can be concluded that optimism for the largest cryptocurrency by marketcap remains intact. And as the Head of Latam of that exchange explains, Maximiliano Hinz, it would seem that the arrival of BTC spot ETFs completely modified the way of approaching the historical analysis that was used for the crypto market, since Bitcoin exceeded its value by 50% in the prehalving and not in the post, as happened previously. Although he maintains: “today there are more bullish factors than bearish ones”.

In this context, 60.4% of Bitget users pointed out not perceiving changes significant in your investment. 48.5% maintain that the halving No affected crypto adoption; 63% refuse to sell their cryptocurrencies; and more than 30% consider that the event itself did not influence the price of Bitcoinfor what was mentioned above.

The roadmap of the crypto market according to the view of the exchanges

And as he explains to Ámbito Julian Colombo, from BitsoFor the cryptocurrency industry, that famous 2010 transaction might seem like a funny anecdote; however, It was a significant fact for the initial development of Bitcoin, demonstrating its usefulness in the real world. “And not only because it configures the most expensive pizza in history with a current value of US$650 millionbut because it helped turn Bitcoin into a payment currency, expanding its uses and paving the way for other crypto assets.”

Colombo assures that since then, there has been growth very important in the adoption and use of cryptocurrencies, growing both Bitcoin and other assets and projects, including stablecoins or Ethereum (ETH).

In that same line it is expressed Vivien Lin, Chief Product Officer and Spokesperson of BingXwho slips that thinking about the future of Bitcoin without reviewing the last decade is thinking about it halfway, since with just 15 years of life, “Bitcoin was created to compete and even replace traditional financial systems”, he assures.

Lin remembers that this digital currency was designed to counteract inflation by limiting the number of coins in circulation to 21 millionwhich increases its value over time, so the price of Bitcoin, with future corrections and adversities at a global level, will undoubtedly continue to increase exponentially and Absolutely all experts agree on this.

For Lin, the acceptance of Bitcoin and the other cryptocurrencies that were growing “do not stop, with more and more users around the world using them.” This boom in adoption is driving regulations around the world and increased participation increasing in the crypto market of traditional finance players, says Lin, very much in tune with Hinz, who comments that the growth of the market It is not only in the price of BTC but of all the actors that make it up.

cryptocurrencies-bitcoin

There is increasing participation in the crypto market by traditional finance players.

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And, as Lin recalls, the brothers’ attempt has gone beyond Winklevos from creating a Bitcoin exchange-traded fund in 2013 to the approval of Bitcoin ETFs in 2024, and even the industry It is also awaiting approval of the Ethereum ETF.

Looking to the future, he adds Alejandro EstrinCountry Manager OKX In Argentina, the cryptocurrency market is prepared to greater growth and evolution. For the expert, there will be clearer regulatory frameworks around the world, continued institutional adoption, technological advances that improve scalability and efficiency, the expansion of use cases, like more nations adopting Bitcoin and the continued development of decentralized finance (DeFi).

Since the first Bitcoin Pizza Day in 2010, Bitcoin and the cryptocurrency market They went from being a niche experiment to becoming a spectacular global financial phenomenon,” adds Estrin.

As Colombo rightly maintains, the best of this industry is its dynamism and constant evolution. Today there are hundreds of extremely interesting projects in the world crypto and blockchainnew use cases, applications for companies, connections with the traditional banking system and regulation, so 14 years after May 22, 2010, it could be concluded that This is just beginning.

Source: Ambito

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